Crop Insurance

VELLORE: The Tamil Nadu Government has allocated Rs 75 lakh by way of subsidy for crop insurance to farmers in the district. An official release here today said the scheme would help farmers who suffered crop loss due to lack of rains, pest attack etc

JAMMU: Jammu and Kashmir government will launch a crop insurance scheme for the benefit of the farmers in the state. Replying to the supplementaries to the main question by Mubarak Gul in Assembly here today, Minister for Agriculture Ghulam Nabi Lone Hanjura said the government would launch a crop insurance scheme for the benefit of the farmers in the state. The Minister said the survey report of damaged crops due to rains and recent floods in the State have been...

NEW DELHI: Members in the Lok Sabha have demanded crop insurance schemes for farmers and said central and state governments should come forward to pay premium for them. Cutting across party lines, the members supported a bill by Congress MP Iqbal Ahmed Saradgi to provide for insurance of crops. Saradgi said frequent loss to crops due to various kinds of vagaries, including natural, left farmers helpless as crop insurance was not easy to come by. "Many commit suicide," he...

AHMEDABAD: Haryana Government has implemented Weather Based Crop Insurance Scheme (WBCIS) in 18 blocks of 17 districts of the state during the year 2012-13.The scheme covers both Kharif and Rabi crops like wheat, paddy, bajra and cotton. A spokesman of the agriculture department said that the blocks in which WBCIS has been implemented for paddy crops during Kharif 2012-13 included Ambala-II, Gohana, Bilaspur, Palwal, Babain, Beri, Barwala, Tohana and Jakhal, Sirsa,...

NEW DELHI: The government is preparing to deploy orbiting satellites to digitally map each farmland in the country, data from which will be used to provide tailor-made crop insurance cover to farmers. A senior government official told ET that a proposal in this regard is being discussed with the insurance regulator, Insurance Regulatory and Development Authority of India ( Irda ). Explaining the move, the official said the idea is...

NEW DELHI: The Department of Post is mulling selling insurance products of other companies, especially in rural areas, besides selling its own policies. In a meeting chaired by Prime Minister Narendra Modi last month on the findings of a Task Force on India Post, DoP conveyed its intentions to enter the insurance space targeting rural India, sources said. The proposed Post India Insurance will start with an initial capital of Rs 100...

KOLKATA/MUMBAI: Agriculture Insurance Company (AIC) will see a substantial rise in premium income as the finance minister P Chidambaram has asked bankers advancing crop loans to necessarily insure these crops for which the loan is being disbursed. Confirming the development, AIC chairman and managing director M Parshad told ET, "Insurance coverage levels were not to the desired extent although the provision was already existing. In his meeting with chief executives of state-owned banks, Mr...

NEW DELHI: The government today informed Parliament that it has roped in 10 private insurance companies along with state-run AIC to bring more farmers under crop insurance schemes and create competition. So far, the state-run Agriculture Insurance Company of India (AIC) has been offering yield-based and weather-based crop insurance programs. "Ten private general insurance companies are empanelled for implementation of...

NEW DELHI: More than 24 lakh farmers benefited from crop insurance schemes during 2012-13, Parliament was informed today. Maharashtra has the highest number of farmers who benefited from crop insurance schemes at 13.18 lakh, followed by Tamil Nadu and Karnataka with 6.91 lakh and 2.74 lakh respectively, Minister of State for Agriculture and Food Processing Industries Tariq Anwar said in a written reply to the Rajya Sabha. Crop insurance covers the risk...

NEW DELHI: General Insurance Corporation (GIC) and its four arms will hold 70 per cent stake while RBI's subsidiary Nabard will pick up the remaining 30 per cent in the crop insurance company expected to start operations by January next year. "The Agricultural Insurance Corporation of India, which would primarily cater to crop insurance, will start with an equity base of Rs 100 crore," GIC managing director P B Ramanujam told PTI. He said the Corporation would soon apply to...

HYDERABAD: Andhra Pradesh Chief Minister Y S Rajasekhara Reddy on Thursday appealed to the Union Agriculture Minister Sharad Pawar to extend the cut-off date upto September for availing crop insurance for non-loanee farmers. The scheme which expires today provides financial support to farmers in case of natural calamities, pests among others. "The Kharif-2008 is delayed in our state due to late arrival of monsoon rains. The cut off date for...

GUWAHATI: As much as 11,477.362 hectares of land involving 21,660 farmers have been covered under the Weather-Based Crop Insurance Scheme (WBCIS) in 27 districts of Assam for the 2014 Kharif season, The crops insured include both agricultural and horticultural crops like sali paddy, jute, black gram, green gram, ginger, turmeric, lady's finger etc - grown between June and September, 2014 - an agriculture department release said. The total premium amount collected under the...

NASHIK: Maharashtra Revenue Minister Eknath Khadse said here today that the government firmly supports farmers who have been suffering excess rain, hailstorm, and drought. "We are adopting various schemes like Employment Guarantee Scheme (EGS), both on temporary or permanent basis to create self-confidence among them," Khadse said. Addressing a government officials of different departments, including Nashik Collector, Zilla Parishad Chief...

NEW DELHI: The government today informed Parliament that it has roped in 10 private insurance companies along with state-run AIC to bring more farmers under crop insurance schemes and create competition. So far, the state-run Agriculture Insurance Company of India (AIC) has been offering yield-based and weather-based crop insurance programs. "Ten private general insurance companies are empanelled for implementation of crop insurance schemes," Minister...

MUMBAI: Cyclone Hudhud and cyclone Nilofar are likely to contribute to insurance claims of over Rs 5,000 crore, making the current fiscal year possibly the worst in a decade for general insurers that have also taken a hit from the floods in Jammu & Kashmir. The industry's hopes of turning in a profit this year after increasing premiums for retail categories such as automobile and health may not materialise due to these...

MUMBAI: Cyclone HudHud that hit the coastal regions of Odisha and Andhra Pradesh over the weekend may not have claimed many human lives, but the damage it brought to crops may cost insurers up to Rs 1,500 crore. The two states were hit by a similar storm a year earlier. Cyclone Phailin in 2013 had also cost Rs 1,500 crore to insurers. The Agriculture Insurance Corporation alone had shelled out Rs 1,200 crore under the National...

RAJKOT: BJP leaders criticised the Centre today for not releasing crop insurance funds meant for farmers from the Saurashtra region of Gujarat and said that agitations would follow if it is not released within ten days. "It is unfortunate that we (farmers) have to hold such conventions for getting our crop insurance amounts," Gujarat BJP state unit president R C Faldu said, while addressing a large gathering of farmers at Shastri Maidan. "It's our right to get crop...

NEW DELHI: Farmers will soon be able to buy weather and crop insurance from state-run general insurance firms. The Insurance Regulatory and Development Authority (Irda) has agreed to give a special dispensation to general insurance companies for selling weather and crop insurance through their agents. The finance ministry had requested Irda for such a dispensation. The move comes amid growing fears of a drought this year. Annual monsoon rains were 21%...

NEW DELHI: Aiming to make up for shortfall in some summer crops, the Centre today asked state governments to focus during the rabi season on 3.37 million hectare that was left unsown due to delayed monsoon. Much of the concentration will be on improving production of pulses and oilseeds during the rabi sowing (winter) season beginning next month, as the acreage under these two crops have been affected in the kharif season due to delayed rains. Addressing a...

CHENNAI: Technology should be developed for domestic production of hybrid rice seed varieties that have 20 to 25 per cent higher yield than the usual paddy crops to avoid expensive imports, a senior official of the Food and Agriculture Organisation of the United Nations has said. "Hybrid rice seeds should be produced locally... technology should be developed to produce hybrid seeds locally and it should be made available locally and that is important," Hiroyuki Konuma...